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Hi,
A 6ya expert can help you resolve that issue over the phone in a minute or two.
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Sounds like the laser has gone bad, and also the drive is stuck. Try CPR in the NYC. They service playstations much faster than Sony, and can usually get it back to you in a week.
here is the website
www.cpr-nyc.com You can ship your unit to them, after you contact them.

Resetting\Restoring it to original settings. WARNING: This will most likely wipe-out all saved games, demos, & etc. Restoring your PS3 to original settings. This is how it's done: Turn off PS3, Unplug PS3, Wait a couple minutes and re-insert plug, Push & hold-down power button until you hear 4 beeps (1,1,2) then let off the power. It should show you a page with restoring options, or a prompt of YES or NO of wanting to enter the Restore Options Page. Choose the one that you would like to do.

pay 150 bucks to sony to fix the dvd drive or buy a new ps3 and sell the broken one on ebay for about 120 to 150 just sell the console only. you should get a little more if you include the controllers and a/v or hdmi cables. Sounds like you ruined the laser eye ( reads the disc for audio and video)

try restoring your ps3.
My ps3 wouldn't read disc, but since I restored it it's now reading discs.
Go to system settings on you're home screen. Then go to restore ps3 system & then go to full restore. It will take 3 & 1/2 hours but it could fix you're problem.

Well try resetting the outlet that the PS3 is plugged into, unplugging everything from the PS3, and plug everything back in, it should work. If not, call Sony Customer Support and they will Fix your PS3 For you. Hope this helped.